Peapack-Gladstone Bank Mortgage Rates
Effective 9.29.22
Fixed-Rate Mortgages1 | Conforming and High Balance Loan Amounts
| Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
|---|---|---|---|---|---|---|---|---|---|
| 30 Year Fixed-Conforming | 7.000% | 0 | 7.179% | 360 | 7.000% | $1,995.91 | $6.65 | $647,200 | 45 |
| 15 Year Fixed-Conforming | 6.000% | 0 | 6.268% | 180 | 6.000% | $2,531.57 | $8.44 | $647,200 | 45 |
Jumbo Loan Amounts1,2 | Minimum Loan Amount Starting at $822,376
| Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
|---|---|---|---|---|---|---|---|---|---|
| 30 Year Fixed | 6.250% | 0 | 6.354% | 360 | 6.250% | $4,002.16 | $6.16 | $1,500,000 | 45 |
FHA Fixed-Rate Mortgages1,3,4 | Conforming and High Balance Loan Amounts
| Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
|---|---|---|---|---|---|---|---|---|---|
| 30 Year Fixed-Conforming | 6.250% | 0 | 7.052% | 360 | 6.250% | $1,879.48 | $6.16 | $625,500 | 45 |
Affordable Housing Loan Programs5
| Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
|---|---|---|---|---|---|---|---|---|---|
| 30 Year Fixed-Affordable Housing | 4.250% | 0 | 4.381% | 360 | 4.250% | $1,475.82 | $4.92 | N/A | 60 |
| 30 Year Fixed-Affordable Housing*** | 4.500% | 0 | 4.635% | 360 | 4.500% | $1,520.06 | $5.07 | N/A | 60 |
Adjustable-Rate Mortgages1,6
| Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
|---|---|---|---|---|---|---|---|---|---|
|
3/6 mo SOFR ARM
CAPS: 2/2/6
|
6.125% | 0 | 5.623% |
36
323
1
|
6.125%
5.250%
5.250%
|
$1,822.83
$1,667.56
$1,666.87
|
$6.08
$5.56
$5.56
|
$1,000,000 | 60 |
|
5/6 mo SOFR ARM
CAPS: 2/2/5
|
6.000% | 0 | 5.696% |
60
299
1
|
6.000%
5.250%
5.250%
|
$1,798.65
$1,672.88
$1,672.01
|
$6.00
$5.58
$5.57
|
$1,000,000 | 60 |
Payments do not include amounts for taxes and insurance. Actual payment obligation will be greater.
Rates quoted are the lowest rates for qualified applicants, are subject to change without notice and are subject to credit approval. Other rates and terms are available and may apply based on our underwriting guidelines. Underwriting guidelines include, but are not limited to, loan amount, credit history and the actual appraised value of the property. Mortgage loans in excess of an 80% Loan-to-Value (LTV) require Private Mo n a loan amount of $305,250 and includes the Upfront Mortgage Insurance Premium.
1Please call for rate quotes for loan amounts over the maximum loan amounts listed.
2Maximum LTV without mortgage insurance is 80% for loan amounts up to $1,500,000. Call for maximum loan amounts for LTV over 80%. Payment schedules are based on a loan amount of $650,000.
3The Base Loan Amount cannot exceed the FHA Statutory Mortgage Limits for each county. Please call for additional information.
4FHA loans include financed Upfront Mortgage insurance and Annual Renewal Mortgage Insurance (Monthly MI). Upfront Mortgage Insurance premium is a percentage of the base loan amount and based on transaction type. Annual Mortgage Insurance Renewal premium is a percentage of the base loan amount & based on term and LTV. Please call for additional information.
5Please call for rate quotes and maximum income limit per county.
***30 Year Fixed Rate -Affordable Housing product will be offered at 4.500% with a $2,500.00 closing cost credit.
6The APR for the Adjustable Rate Mortgages (ARMs) are based on a 30-year term with ARM caps: for the 3/6 mo ARM: 2% max 1st adjustment, 2% per subsequent adjustment & 6% lifetime and for /6 mo ARM: 2% max 1st adjustment, 2% per subsequent adjustment & 5% lifetime. After the initial period, rates and payments are based on the current index plus a margin. APR may increase after closing.
BANK FEES
| Application | $500.00 | Flood Certification and Life of Loan | $15.00 | Credit Report - Joint | $42.00 |
| Appraisal | $525 to $800 | Attorney Review | $200.00 | Credit Report - Individual | $21.00 |
| Tax Service | $104.00 |
Contact Us for more information.
30-Day Average SOFR | 2.45%
Margin | 2.75%